new business development tracking process for a legal restructuring team

Initial Assessment

Identify potential clients in need of legal restructuring services.

Conduct preliminary research on the client's business and financial status.

Evaluate the client's industry and market conditions.

Determine the scope of legal restructuring services needed.

Engagement Strategy

Develop a tailored outreach strategy for each potential client.

Create value propositions highlighting the team's expertise.

Prepare introductory materials and presentations.

Assign team members to lead outreach efforts.

Client Interaction

Schedule initial meetings or consultations with potential clients.

Document key client concerns and objectives during meetings.

Provide preliminary feedback and recommendations based on client needs.

Establish a follow-up plan and schedule for ongoing communication.

Proposal Development

Draft a comprehensive proposal outlining services, timelines, and costs.

Collaborate with relevant team members to refine the proposal.

Present the proposal to the client, addressing any questions or concerns.

Adjust the proposal based on client feedback as necessary.

Tracking and Follow-Up

Log all client interactions and updates in a tracking system.

Set reminders for follow-up communications.

Monitor the proposal status and decision-making timeline.

Maintain open lines of communication with the client throughout the process.

Post-Engagement Review

Assess the outcome of the engagement once completed.

Gather feedback from the client regarding the services provided.

Analyze what worked well and what could be improved for future engagements.

Update tracking systems and processes based on lessons learned.

Continuous Improvement

Regularly review and update the business development strategy.

Conduct team meetings to discuss challenges and successes.

Stay informed about industry trends and changes in legal restructuring.

Invest in professional development and training for team members.

This checklist provides a structured approach to the new business development tracking process for a legal restructuring team, ensuring that all key aspects are covered.